Samsung has finally addressed the problem and promised to fix it with a firmware update.

The company did not explain the exact cause of the sudden failure, but just stated that it was aware of the defect.

"The good news is it only happens to a very limited number of Galaxy S3 models with 16GB memory," said Anne ter Braak, a spokeswoman for the company. "The cause lies in a Samsung firmware bug, which can easily be solved by a firmware update."

Fortunately for Samsung, the number of users experiencing the issue appears to be quite small, so the company will not have to worry about revamping its hardware build.

Customers worried about their smartphones will have to wait for Samsung to issue the firmware fix, which should be arriving in the coming weeks. An exact schedule for it has not been released.

The Galaxy S3 has been one of Samsung's most successful smartphones.

The handset is on track to reach the 50 million sold milestone in early 2013.

Samsung had already sold 30 million units of the device by the third quarter of 2012 and analysts predict that its sales will continue to grow even with the release of the coveted iPhone 5.

The latest reports point to the Galaxy S3 hitting the 50 million sold mark by the beginning of this year. This Christmas probably boosted the sales of the device significantly. Samsung also recently updated the Galaxy S3 to Android 4.1.2, JellyBean with Premium Suite, making it even more enticing for technology enthusiasts.